Proposed governance principle and procedure for a university endowment fund

Anifowose, Mutalib and Hamdan, Hamdino and Annuar, Hairul Azlan (2018) Proposed governance principle and procedure for a university endowment fund. In: The 2nd Islamic Management Development Conference (IMDeC 2018) : The Evolution of Islamic Management, 27 & 28 June 2018, Kedah, Malaysia. (Unpublished)

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Abstract

No doubt that endowment fund contributes much towards social and economic development in different societies.The same have been proved by University Endowment Funds (UEF) like the top ten UEF and others. This contribution on the society on high learning process is made possible through this fund under a corporate structure that directs all its activities. Due to the importance of governance in any organization, hence this study aims to analyse current governance structure, specifically bord composition of the top five UEF. From it, sugeestions can be given for universies undertaking Islamic endowment fund for improvements so as to become much better in terms of perfomance through good governance structure. Data were retrived through content analysis from top five UEF reports. The study observed that there were two forms of board structure used on the governance of endowment funds at universities. These include single-tier and two-tier model. While the former comprises of a board that oversee the activities of the fund, the latter consists of board of trustee that formulate the policies and investment committee that executes the policies formulated. In either of the two model, the average size of the board is 9 members. The board comprises of male and female members and the meetings are held 4 times a year. Also, most of the funds engage in real estate business and most of the board members are professional finance experts. Based on the aforementioned, it is suggested that the management of the fund should be separated from the university management.

Item Type:	Conference or Workshop Item (Plenary Papers)
Additional Information:	6883/68270
Uncontrolled Keywords:	University Endowment Fund (UEF), Board Structure, Governance, Independent
Subjects:	H Social Sciences > HF Commerce > HF5001 Business. Business Administration > HF5387 Business ethics
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Kulliyyah of Economics and Management Sciences Kulliyyah of Economics and Management Sciences > Department of Accounting Kulliyyah of Economics and Management Sciences > Department of Finance
Depositing User:	dr hamdino hamdan
Date Deposited:	20 Dec 2018 14:57
Last Modified:	20 Dec 2018 14:57
URI:	http://irep.iium.edu.my/id/eprint/68270

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